Farview Equity Partners, formed by former executives of TCV, Warburg Pincus and Weil Gotshal & Manges, is seeking at least €300 million for its debut private equity vehicle, Private Equity International has learned.
The firm has begun discussions with prospective LPs for its inaugural fund, which will invest in financial and technology businesses in lower mid-market Europe, a source with knowledge of the fundraise told PEI.
Farview expects to invest in about 12 businesses with enterprise values below €250 million through either minority or majority transactions, it is understood. Target sectors are software/software as a service, technology-enabled business and information services, as well as financial technology.
The London-based firm has already made its first investment, acquiring a significant minority stake in British intranet-as-a-service company Unily, alongside Boston-based manager Silversmith Capital Partners, the source added.
Farview’s four founding partners include John Rosenberg, ex-partner and head of Europe at TCV; Guy Sochovsky, a former principal at Warburg Pincus specialising in TMT; Samantha McGonigle, a former partner at law firm Weil Gotshal & Manges; and an undisclosed fourth partner, according to the source. Dipish Rai, previously an investment professional at Providence Equity Partners, also joined the firm as a principal.
Growth investing has seen increasing investor interest in recent years. PEI’s latest LP Perspectives survey found that nearly one third of LPs who participated in the survey plan to increase their target allocation to growth strategies over the next 12 months. Blackstone launched a growth equity platform in January and Warburg Pincus is seeking $13.75 billion fundraising for its Warburg Pincus Global Growth-E fund, according to PEI data
Farview declined to comment on fundraising.